U.S. blacklists China's Huawei as trade dispute clouds global outlook

On Wednesday the Trump administration hit Chinese telecoms giant Huawei with severe sanctions, adding a new incendiary element to the U.S.-China trade dispute just as Treasury Secretary Steven Mnuchin said he would visit China soon for more talks.

Reuter reports that Secretary Wilbur Ross said in a statement President Donald Trump backed the decision to “prevent American technology from being used by foreign owned entities in ways that potentially undermine U.S.